Hi Access200.... I just bought a few so thank you for posting that report .
Here is another from one of my favourite fund managers, OC Funds.
They don’t have any interest in ramping and it seems to me they do thorough due diligence and generally pick excellent companies .... and their monthly updates are always useful too.
It looks like they bought into Probiotec for their Microcap Fund early last year when the proce was around $1.50, and as of the last report, (and for several others) it has been one of their top five holdings :
this is dated March 31, 2019 giving their overview and rationale ;
https://www.ocfunds.com.au/wp-content/uploads/2019/04/190331-OC-Micro-Cap-Fund-Fund-Update.pdf
... “Probiotec (PBP) is a recent addition to the portfolio.
PBP is predominantly a contract manufacturer of over the counter pharmaceuticals based in Laverton, Victoria.
PBP’s share price moved higher during the quarter after reporting an underlying result which was broadly in line with the prior corresponding period despite divesting non-core assets recently. PBP has been using excess capital to buy back stock and may also deploy capital into acquisitions of private contract manufacturing and packing businesses.
We like the relatively defensive earnings profile of PBP, the management team and its sound balance sheet and believe that the prospects are bright for the future of the business.”
